LatinNews Daily - 17 February 2025

*Costa Rica’s finance ministry has released new figures which show that the country closed 2024 with a deficit of ¢1.85trn (US$3.66bn) – equivalent to 3.8% of GDP. This is up from a deficit of ¢1.53trn in 2023 – equivalent to 3.3% of GDP. The finance ministry attributed the difference to a lower primary balance than that registered in 2023, and a rise in interest payments on debt which totalled ¢2.37trn in 2024 (4.8% of GDP), the highest of the last 19 years. The finance ministry also highlighted that for the third year running, the country registered a primary surplus – of ¢520.70bn (1.1% of GDP), down from ¢729.71bn (1.6% of GDP) in 2023. The finance ministry also noted that central government debt totalled ¢29.35trn in 2024 (59.8% of GDP). This is up from ¢28.76trn in 2023 (61.1% of GDP).